l@ ainnto pharma limited Ajanta House,

Charkop, Kandivli West,

T
F

E
+9'J.22 66061000
+91.22 6606 1200
info@ajantapharma.com
Mumbai 400 067
lndia W www.ajantaPharma.com
3'o May,2017

BSE LIMITED National Stock Exchange of India,

Phiroze Jeejeebhoy Towers Exchange Plaza,Sth Floor, Plot no.
DalalStreet, C/1, G Block, Bandra Kurla Complex,
Mumbai- 400001 Bandra (East), Mumbai - 400 051

Scrip Gode: BSE - AJANTPHARM 532331 Scrip Code: NSE AJANTPHARM EQ

Re: Outcome of the Board Meeting

Dear Sir,

We have to inform that Board of Directors at its meeting held on Wednesday, 3'd May 2017,
have inter alia:

1. Approved the Audited Financial Statements (Consolidated and Standalone) for the year
ended 31st March 2017 and Audited Financial results (consolidated and standalone) for
the quarter and year ended 31st March 2017 as recommended by Audit Committee;

2. Recommended that interim dividends of Rs. 6/- per share and Rs. 7l- per share declared
atthe Board meetings held on 26b October2016 and 18th March 2017 respectively, be
considered as final dividend for the year ended 31't March, 2017 .

Pursuant to Regulation 33 the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, we enclose herewith the following:

i. Press Release being issued on the above results.

ii. Audited Consolidated Financial Results for the quarter and year ended 31st March,
2017 and auditors' report thereon;
iii. Audited Standalone Financial Results for the quarter and year ended 31st March,
2017 and auditors 'report thereon;

The report of Auditors is with unmodified opinion with respect to Audited financial results
(Consolidated and Standalone) for the quarter and year ended 31't March 2017. Declaration
to that effect is also enclosed herewith.

The Board meeting commenced at 11.00 a.m. and concluded at 2.30 p.m.

Kindly take the above on your records.

Thanking You,

Yours faithfully,
For AJ$TA PHARMA LIMITED
,a -./
--(-k'
GAURANG SHAH
AVP - Legal & Company Secretary

Encl.: a/a
Corporate ldentity Number - 124230MH1979P1C022059
 Ajanta House T +91 22 6606 1000

f@ ninrfin pharma" limited

Charkop, Kandivli West,
Mumbai4OO067
lndia
F
E
+91 2266061200
info@ajantapharma.com
W www.ajantapharma.com

Press Release

Income from Operations up 11o/o, PAT up 5% in Q4 FY 2017

(4th Quarter & Year Ended FY 2017 Consolidated Results)

Mumbai, 3d May 2017: Ajanta Pharma Ltd. a specialty pharmaceuticalformulation company

reported today its performance for the 4th quarter and financial year ended 31"t March 2017.

Q4 FY 2017 perfolrnance highlights (Consolidated, as per Ind AS)

. f ncome from operations grew 11% at Rs. 477 cr. against Rs. 431 cr.

. EBITDA growth of 23o/o at Rs. 174 cr. against Rs. 142 cr., EBITDA at 36% of revenue.
. Profit after tax grew 5% at Rs. 114 cr. against Rs. 109 cr., PAT at 24o/o of revenue.
. Total comprehensive income grew 3% at Rs. 113 cr. against Rs. 110 cr.

Year ended FY 2017 performance highlights (Gonsolidated, as per Ind AS)

. lncome from operations grew 14% at Rs. 2,002 cr. against Rs. 1,749 cr.
. EBITDA growth of 19o/o at Rs. 701 cr. against Rs. 587 cr., EBITDA at 35o/o of revenue.
. Profit after tax grew 22o/o at Rs. 507 cr. against Rs. 416 cr., PAT at25% of revenue.
r Totaf comprehensive income grew 20%o at Rs. 504 cr. against Rs. 421 cr.
Commenting on the results, Mr. Yogesh Agrawal, Managing Director said:

"Despite the demonetization impact on the Indian pharma market, our India branded generic
sales showed resilient growth. Rupee appreciation impacted the export sales growth and the
profitability for the quarter.

Overall, we posted satisfactory results for the FY 2017 with PAT growth of 22o/o. We move
into next year with renewed vigour, resilience and focus, by crafting the strategies for
consistent growth.

Our Guwahati facility (Phase 1) was implemented in record time and it commenced
commercial production during the quarter. Ourtimely investment in world class manufacturing
facilities ensure adequate capacities to meet the sales growth."

lndia
For Q4 FY 2017 ,India's branded generic sales (excluding institution) was Rs. 133 cr. posting
growth ot 13%. For FY 2017, itwas Rs. 593 cr. posting healthy growth of 15%.

For Q4 FY 2017, Total India sales (including institution) was Rs. 140 cr., up 12o/o. For FY 2017,
it was Rs. 614 cr., up 12o/o.

Exports
During Q4 FY 2017, Export sales were Rs. 317 cr., posting growth of 60/o. Africa contributed
Rs. 132 cr., de- growth of 24o/o, Asia contributed Rs. 137 cr., grovuth of 15o/o and US contributed
Rs. 45 cr. growth of 838%.

w
1( nrurvranr)]

Corporate ldentity Number -

Page I of2
124230MH1979P1C022059
 Ajanta House T +9L 22 6606 1000

f@ ainntn pharmn timited

Charkop, Kandivli West,
Mumbai 4O0067
F +91 226606L2O0
E info@ajantapharma.com
India W www.ajantapharma.com
For FY 2017 , Exports sales grew 12o/o with sale of Rs. 1 31 9 cr. Africa contributed Rs. 71 2 cr.
(growth of 3o/o), Asia contributed Rs. 417 cr. (de-growth of 1oo/o) and US contributed Rs. 185
cr. (growth of 1179o/o).

In US, we received I ANDA final approvals, commercialized 7 products and filed 8 ANDAs
with US FDA during FY 2017. With this, company has 12 products commercialized out of 17
final ANDA approvals, has 2 tentative approvals and 15 ANDA awaiting approval with US FDA
at the end of FY 2017. company plans to file 12-15 ANDAs during Fy 2o1rg.

R&D
Company enhanced its R&D spend to 8% of operating revenue both during Q4 & Fy 2017.
For Q4, R&D expenses were Rs. 39 cr. (Q4 FY 2016 Rs. 36 cr.), whereas for FY 2017, R&D
expenses were Rs. 153 cr. (FY 2016 Rs. 106 cr.).

About Ajanta Pharma Limited

Ajanta Pharma is a speciality pharmaceutical formulation company having branded generic
business in India and emerging markets, generic business in US and institution business in
Africa. Many of company's products are 1't to market and are leading in their sub-therapeutic
segments.

Company's state of the art R&D centres for formulation development and API are located at
Mumbai, having a team of 800+ scientists. Company has 7 world class manufacturing facilities
located in India and Mauritius.

For last 5 years, company has posted healthy performance with its consolidated total income
growing at21o/o CAGR and net profit at 46% CAGR.

For more details visit www.aiantapharma.com

For regular updates follow us on twitter- www.twitter.com/aiantapharmaltd

For specific queries. contact:

Rajeev Agarwal Tel: +91 22 66061377 Email: raieev.aoarwat@aiantaoharma.com

Reuters: AJPH.NS, Bloomberg: AJp:tN, NSE: AJANTPHARM, BSE: 532331

Corporate ldentity N umber (C N) : 124230 M H 1 979 pL CO22OS}
I

Safe Harbour Statement

Page2 of 2
Corporate ldentity Number - 124230MH1979ptC022059
 T +91 22 6606 1000
@ aiantaphnrmalimited Ajanta House,
Charkop, Kandivli West,
Mumbai400 067
F +9122660167200
E info@ajantapharma.com
lndia W www.ajantapharma.com

Statement of Consolidated Audited Financial Results for the quarter and year ended 31 March 2017
t in Crore
Particulars 3 months ended Year Ended
3'U03t2017 31t12t2016 31 t03t2016 3'U03t2017 31 t03t2016
ncome
iales
lndia 139.61 1 54.00 124.12 613.74 549.35
Outside India 316.51 361.02 299.95 1 .31 8.87 1,177.52
)ther operating income 20.69 18.09 6.53 69.03 22.50
levenue from operations 476.81 533.1 1 430.60 2,OO1,64 1,749,37
)ther lncome 7.39 19.19 5.05 23.86 21,15
Total Income 479.20 5s2.30 435.65 2,025.50 1,770.52
:xpenses
lost of materials consumed 80.1 9 97.72 101 .95 377.85 400.09
)urchases of stock-in-trade 7.14 29.00
19.41 47.36 63.01
lhanges in inventories of finished goods,
4.93 ('t0.71 135.47) (10.62 (49.27',;
vork-in-nrnorx< end <tmlr-in-tr:ia
:mptoyee benefits expense 75.50 77.44 68.84 295.42 256.64
rinance costs
0.89 0.82 1.12 3.49 4.89
)eoreciation and amortisation exDense 18.92 1 5.30 11.42 61.21 44.43
)ther exoenses 147.65 17',t.27 124.53 602.62 491.U
Total exoenses 335.22 371.25 301.39 1,377.33 1,211.63
troflt before tax 143.98 181.05 134.26 648.17 558.89
fax Expense
Current Tax 30.67 40.94 18.70 157.49 14't.17
Deferred Tax rc.7'l (2.49) 6.60 (16.1 s 2.11
Profit for the period '114,O2 142.60 10E.96 s06.83 4't5.61
Other Comprehensive Income (OCl)
Items that will not be reclassified to Drofit & loss {net) 0.06 (0.06 (0.06 (0.1 1 (0.23
Items that wi[ be rec]assified to orofit & loss (net) (1.03', (0.87 1.23 Q.42 5.58
Other Comprehensive Income for the vear, net of tax o.97'. (0.93) 1.17 (2.s31 5.35
fotal Comorehensive Income for the oeriod 1 13.05 141.67 I 10.13 504.30 420.96
Paid-up Equity Share Capital (Face value of ( 2 each) 't7.69 17.69 17.69 17.69 17.69
Sther Equity 1,549.99 1,173.17
iarnings Per Share (Face vatue of t 2 each)
Basic - in ? 12.96 16,21 12.38 57.59 47.23
Dituted - in t 12.95 16.20 12.38 57.58 47.23
Notes :

1 . Above results have been reviewed by Audit Committee and approved by the Board of Directors at their meeting held on 3 tlay 7017.

2. Figures pertaining to last quarter are balancing figures between audited figures in respect of full financial year and published year to date figure upto
the end of third quarter of relevant financial year.
3. Board of Directors have approved 2nd interim dividend of ( 7 per equity share which was paid on 30 March 2017, in addition to ( 6 per equity share,
which was paid as 'lst interim dividend in November 2016. The Board has recommended total of interim dividend of ( 13 per equity share for N 2016-17
to be considered as final dividend.
4. Company has adopted Indian Accounting Standards ("lnd AS") from 1 April 2016 (transition date being 1 Aprit 2015). The impact of transition has been
accounted for in opening reserves and the comparative periods have been restated accordingly.
5. The consolidated audited financiat results of the Company, its wholly owned subsidiaries and step-down subsidiary ("the Group") have been prepared
as per lnd AS 110 on Consolidated Financial Statements. There is no minority interest,
6. The Group operates exclusively in one reportable business segment i.e., "Pharmaceuticals".
7. There are no exceptionat items,
8, Reconciliation of net profit and reserves as per Ind AS and Indian GMP for the relevant periods of the previous year is as follows:
{ in Crore

/ (Xher EouiW as oer Previous Indian GMP

Vatue of Financial Assets (refer note'a')
Benefits - Actuariat Gain/(Loss) (refer note'b')

Tax (refer note'd')

before OCI / Other EoulW as

Page '1 of 3 t(4'uM^'J

Number - 124230MH1979P1C022059
 T
@ aiantnpharmntimited Ajanta House,
Charkop, Kandivli West,
Mumbai 400 067
+91 22 6606 1000
F +91 2266O6L2OO
E info@ajantapharma.com
lndia W www.ajantaPharma.com

a) Fair valuation of Financial Assets - Under Indian GMP, financial assets were measured at lower of cost and realisation value, Under Ind AS such
financiat assets are recognised and measured at fair value. lmpact of fair value changes as on the date of transition, i.e., 1st April 20i5, is recognised
in reseryes and changes thereafter are recognised in statement of Profit and Loss or Other Comprehensive Income, as the case may be.
b) Emptoyee benefits - Actuarial gains and losses on defined benefit plans: Under lndian GMP att actuariat gains and losses were recognised in
statement of Profit and Loss. Under Ind AS these are recognised in Other Comprehensive Income,
c) Others - Other adjustments mainty comprises of provision for expiry goods pertaining to earlier years, which has resutted in charge to the reserves,
on the date of transition, with consequential impact to the statement of profit and loss for the subsequent periods.
d) Deferred Tax - The impact of transition adjustments together with Ind AS mandate of using batance sheet approach (against profit and loss approach
in previous GMP) for computation of deferred taxes has resulted in charge to the reserves, on the date of transition, with consequential impact to the
statement of profit and loss for the subsequent periods.
9, Statement of Assets and Liabitities { in Crore
31 t03t2017

Current Tax fusets (Net)

1,173.17
1,1 90.86

5(tt lliiLi'rBI
Page 2 of 3 trs tn
Or

KI\ Corporate tden"tity 124230M H 1979P1C022059

 T +91 22 5606 1OO0
@ ainntaphnrmnlimited Aja.nta*louse,
Clr*op, Kandivli West,
Mumbai 4OO067
F +91 2266057200
E info@ajantapharma.com
lndia W www.ajantapharma.com

10. During the quarter, Nil (year to date 3,750) equity shares of ( 2 each, fully paid up, were altotted upon exercise of vested options pursuant to the
Employees Stock Options Scheme, 201'1.
11. Board of Directors in their meeting held on'18 t\rtarch 2017 approved the amalgamation of Gabs Investments Private Limited ('Gabs') with the
Company in consideration for Equity shares of the Company. Gabs hotds 83,92,262 equity shares in the Company, representing about 9.54% of the totat
paid up capital, against which Company will issue same number of shares to the shareholders of Gabs. Amatgamation is subject to approval of
shareholders of both the Companies and other regulatory authorities as prescribed in law. Hence, no effect of the same is given in the financial
statements.
12. The Standalone Audited Financial Results are available on the companys website www,ajantapharma.com
1 3. previous period,s figures have been regrouped wherever necessary.
By order of the Board
For Ajanta Pharma Ltd.

Yogesh il. Agrawal

Mumbai, 3 f'tay 2017 Managing Director

s(;nEi$jl'')F

Qr"l'C

Page 3 of 3

Corporate ldentity Number - 124230MH1979P1C022059

 KAPOOR & PAREKH ASSOCIATES
CHARTERED ACCOUNTANTS

Independent Auditor's Report on the Consolidated Financial Results of the

Ajanta Pharma Limited Pursuant to the Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 201 5

To
The Board of Directors of
AJANTA PHARMA LIMITED

1. We have audited the accompanying "statement of Consotidated Financial

Resutts" of AJANTA PHARMA LIMITED ("the Company") and subsidiaries
(cottectivety referred to as "the Group") for the year ended 31 March 2017,
("the Statement"), attached herewith, being submitted by the Company
pursuant to the requirement of Regutation 33 of the SEBI (Listing Obtigations
and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No.
ctR/cFD/FAC|6212016 dated 5 Juty 2016.

2. This Statement, which is the responsibitity of the Company's managements and

approved by the Board of Directors, has been prepared on the basis of retated
Consotidated Financial Statements which are in accordance with the lndian
Accounting Standard (lnd AS) prescribed under Section 133 of the Companies
Act, 2013 read with retevant rutes issued thereunder and other accounting
principtes generatty accepted in lndia. The responsibitity inctudes design,
implementation and maintenance of internaI control relevant to the
preparation of the Statement that is free from material misstatement, whether
due of fraud or error.

3. Our responsibitity is to express an opinion on this Statement. We conducted our

audit in accordance with the Standard on Auditing issued by the lnstitute of
Chartered Accountant of India. Those Standards require that we ptan and
perform the audit to obtain reasonabte assurance about whether the Statement
is free from material misstatement. An audit inctudes examining, on a test
basis, evidence supporting amounts disclosed in the Statement. An audit atso
inctudes evatuating the appropriateness of the accounting poticies used and the
reasonabteness of the significant accounting estimates made by the
Management, as wetl as evatuating the overatl presentation of the Statement.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.

(f, I\%'
3(nc,
ryDlc
f,''liS/t
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6;y/ Page 1 of 2

701, Business Suites I, S.V. Boad, Santacruz (W), Mumbai - 400 054, India.Tel: +91 222600n02Fax:+91 22 2600 7706 Email : info@sskpa.com, Web : www.sskpa,com
 KAPOOR & PAREKH ASSOCIATES
CHARTERED ACCOUNTANTS

4. We did not audit the financial statements of subsidiaries inctuded in

consotidated financial results, whose financial statements reflect tota[ assets
{
of 339.07 Crore as at 31 March 2017; as wetl as the total revenue of
< 506.08 Crore for the year ended on that date. These financial statements and
other financial information have been audited by other auditors whose reports
have been furnished to us, and our opinion on the consotidated financial resutts,
in so far as it retates to the amounts and disclosures inctuded in respect of
subsidiaries are based solety on the report of such other auditors.

5. In our opinion and to the best of our information and according to the
explanations given to us and based on the consideration of the reports of the
other auditors referred to in paragraph 4 above, the Statement:
a. inctudes the financial resutts of the fottowing subsidiaries:
i.Ajanta Pharma (Mauritius) Limited ("APML")
ii.Ajanta Pharma Nigeria Limited
iii.Ajanta Pharma USA Inc.
iv. Ajanta Pharma Phitippines Inc.
v. Ajanta Pharma (Mauritius) International Limited
(Whotty owned subsidiary of APML)

b. have been presented in accordance with the requirements of Regutation 33

of the SEBI (Listing Obtigations and Disclosure Requirements) Regutations,
2015 read with SEBI Circular No. CIR/CFD/FACI6212016 dated 5 Juty 2016;
and
c. give a true and fair view in conformity with the aforesaid Ind AS and other
accounting principtes generatly accepted in India, of the consotidated net
profit (financial performance inctuding other comprehensive income) and
other financial information of the Group for the year ended 31 March 2017.

6. The Statement includes the resutts for the quarter ended 31 March 2017, being
the balancing figure between audited figures in respect of the futl financiatyear
and the pubtished unaudited year to date figures up to the third quarter of the
current financial year, which were subject to limited review by us.

For Kapoor & Parekh Associates

Chartered Accountants

Nilesh Parekh
Partner
M. No. 33528

Mumbai, 3 May 2017

Page 2 of 2

701, Business Suites 9, S. V. Road, Santacruz (W), ft,lumbai - 400 054, India.Tel: +91 2226007702 Fax:+91 2226007706 Email : info@sskpa.com, Web : wwusskpa.com
 T +91 22 6606 1O0O
@ nimtnphnrmalimited Ajanta House,
Charkop, Kandivli West,
Mumbai400 067
F +91 2266061200
E info@ajantaPharma.com
lndia W www.ajantaPharma.com

Statement of Standalone Audited Financial Results for the quarter and year ended 31 March 2017
{ in Crore
Particulars 3 months ended Year Ended
31 t03t2017 3',U12t2016 31 t03t2016 31 t03t2017 t1 t03t2016
lncome
iates
India 139.61 1 54.00 124.12 613.74 549.35
Outside lndia 258.20 336.51 275.87 1,139.94 1,001.75
)ther oDeratinq income 20.69 1 8.09 6.53 69.03 22.50
Revenue from operatlons 418.50 508.60 406.52 1,822.71 't.573.60
f,ther Income 7.36 51.08 43.28 66.95 &.E7
Total lncome 425.86 559.5E 449.80 1,889.65 1.660.47
Expenses
:ost of materials consumed 79.14 96.93 101.26 373.31 397.21
turchases of stock-in-trade 5.55 18.10
1 18.36 59.23 57.81
3hanges in inventories of finished goods,
(s.ee) 12.79 (18.04) 7.29 (41.01
lark-in-nrmra<c anal <f trk-in-f ra.la
:mptoyee benefits expense 69.09 69.28 63.34 269.78 235.03
.inance costs 0.74 0.59 0.92 2.83 4.19
)epreciation and amortisation expense 18.87 14.73 1 1.55 59.48 42.68
)ther expenses 1 I 8.82 t36.00 110.79 477.09 402.00
Total expenses 296.22 t48.42 288.18 1,249.01 1,O97.91
lrofit before tax 129.64 211.26 16'1.62 640.65 s62.56
Tax Expense
Current Tax 19.45 39.00 16.82 136.98 131.89
Deferred Tax 2.22 1.28 6.81 3.86 8.72
trofit for the period 107.97 170.94 137.99 499.81 121.95
)ther Comprehensive Income (OCl)
tems that will not be reclassified to profit & loss (net) 0.06 (0.06 (0.06) (0.1 1 (0.23)
tems that witl be reclassified to Drofit & loss (net)
)ther Comprehensive Income for the vear, net of tax 0.06 (0.06' (0.06 (0.1 r ) (0.231
fotal Comprehensive Income for the period 108.03 170.92 't37.93 499.70 421,72
)aid-up Equity Share Capital (Face value of ( 2 each) 17.69 17.69 17.69 17.69 17.69
)ther Equity 1,486.25 1,114,01
:arnings Per Share (Face value of ( 2 each)
Basic - in ( 12.27 19.42 1 5.68 56.79 47.95
Dituted - in ? 12.27 19.42 1 5.68 56.78 47.95
Notes :
1. Above results have been reviewed by Audit Committee and approved by the Board of Directors at their meeting held on 3 llay 2017.
2. Figures pertaining to last quarter are balancing figures between audited figures in respect of futl financial year and pubtished year to date figure upto
the end of third quarter of relevant financial year.
3. Board of Directors have approved 2nd interim dividend of t 7 per equity share which was paid on 30 lrlarch 2017, in addition to { 6 per equity share,
which was paid as lst interim dividend in November 2016. The Board has recommended total of interim dividend of ( 13 per equity share for F'( 2016-17
to be considered as final dividend.
4. Other income includes : 3 months ended Year Ended
31 t03t2017 31 I 1212016 31 t03t2016 31 t03t2017 31 t03t2016
)ividend from subsidiaries (( in Crore) 9.80 33.38 40.17 43.18 66.91
5. Company has adopted Indian Accounting Standards ("lnd AS") from 1 April 2016 (transition date being 1 Aprit 2015), The impact of transition has been
accounted for in opening reserves and the comparative periods have been restated accordingly.
6. The Company operates exclusively in one reportabte business segment i.e,, "Pharmaceuticals".
7. There are no exceptional items.
8. Reconciliation of net profit and reserves as per Ind AS and Indian GAAP for the relevant priods of the previous year is as fotlows:
{ in Crore
Profit Reconcitiation Other Equity
Nature of adjustments 3 months endec Year ended As at
31 t03t2016 31 t03t2016 31 t03t2016
trofit for the period / Other Equity per Previous Indian
as GAAP 1 35.71 414.48 1,107.10
'air Value of Financial Assets (refer note'a') 1.60 4.45 10.38
imployee Benefits - Actuarial Gain/(Loss) (refer note'b') 0.19 0.35
)thers (refer note'c') 1.47 6,45
)eferred Tax (refer note'd') (0.e8) (3.78) (3.47
fotal 2.28 7,47 6.91
Profit for the oeriod before OCI / Othellouitv as oer Ind AS 't37.99 421.95 1,114.O1

Page 1 of 3
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124230MH1979P1 c022059
 T +91 22 6606 1000
@ niantnphnrmalimited Ajanta House,
Charkop, Kandivli West,
Mumbai 4O0067
F +91 2266067200
E info@ajantapharma.com
lndia W www.ajantapharma.com

a) Fair valuation of Financial Assets - Under Indian GAAP, financial assets were measured at lower of cost and realisation value. Under Ind AS such
financial assets are recognised and measured at fair value, lmpact of fair value changes as on the date of transition, i.e,, 1st April 2015, is recognised in
reseryes and changes thereafter are recognised in statement of Profit and Loss or Other Comprehensive Income, as the case may be.

b) Employee benefits - Actuarial gains and losses on defined benefit plans: Under Indian GAAP all actuarial gains and losses were recognised in
statement of Profit and Loss. Under Ind AS these are recognised in Other Comprehensive Income.
c) Others - Other adjustments mainly comprises of provision for expiry goods pertaining to earlier years, which has resulted in charge to the reseryes, on
the date of transition, with consequential impact to the statement of profit and loss for the subsequent periods.
d) Deferred Tax'The impact of transition adjustments together with Ind AS mandate of using batance sheet approach (against profit and loss approach
in previous GMP) for computation of deferred taxes has resulted in charge to the reseryes, on the date of transition, with consequential impact to the
statement of profit and loss for the subsequent periods.
9. Statement of Assets and Liabitities { in Crore
Particulars 31 t03t2017 31 t03t2016
dssErs
[on-Current Assets
Property, Plant and Equipment 566.97 429.08
Capital Work-in-Progress 338.03 238.42
Other Intangible Assets 5.96 3.75
Intangible assets under devetopment 1.23 1.38
Financial Assets
Investments 17.26 17.25
Others 9.09 9.09
Other non-current assets 13.93 1 6.30
Total Non-Current Asset! 952.47 715.27
:urrent Assets
Inventories 179.28 't89.78
Financial Asets
lnvestments 181.56 76.78
Trade Receivabtes 336.00 350.48
Cash and cash equivalents 4.8',1 19.49
Other Bank balances 4.12 1.95
Others 1.24 0.71
Current Tax Asets (Net) 11.23 17.63
other current assets 54.1 5 4',t.60
Total Current Asset! 772.39 698.42
Total Asset! 1,724.86 1,413.69
:QUTTY AND LIABILIT]ES
:QUfTY
Equity Share Capital 17.69 17.69
Other Eouitv 1.446.25 1,1't4.01
Total Equity 1,503.94 1,131.70
-IABILlTIES
{on-Current Liabilities
Financial Liabitities
Borrowings 1 3.82
Other financial liabitities 0.09 0.45
Provisions 3.t5 2.59
Deferred tax tiabitities (Net) 27.38 23.58
Total Non-Current Llabllities 30.62 40.44
lurrent Llabllltles
Financial Liabilities
Borrowings 5.53 34.47
Trade Payables 1 38.78 145.04
Other financial liabilities 25.28 40.07
Other current tiabilities 7.91 10.61
Provisions 12.80 1 1.36
Total Current Liabillties 190.30 241.55
Total Llabllltles 220.92 281,99
Total Equity and Liabilitie: 1,724.86 1,413.69

Page 2 of 3

Corporate ldentity Number - 124230MH1979P1C022059

 T +91 22 6605 10OO
@ aiantaphnmnlimited Ajanta House,
Charkop, Kandivli West, F +91 22 66061200
Mumbai400 067 E info@ajantapharma.com
lndia W www.ajantapharma.com

10. During the quarter, Nil (year to date 3,750) equity shares of ( 2 each, futly paid up, were allotted upon exercise of vested options puruant to the
Employees Stock Options Scheme, 201'1.
11. Board of Directors in their meeting held on 18 lr{arch 2017 approved the amalgamation of Gabs Investments Private Limited ('Gabs) with the
Company in consideration for Eguity shares of the Company. Gabs holds 83,92,262 equity shares in the Company, representing about 9.54% of the total
paid up capital, against which Company will issue same number of shares to the shareholders of Gabs. Amalgamation is subject to approval of
shareholders of both the Companies and other regulatory authorities as prescribed in law. Hence, no effect of the same is given in the financial
statements.
'12. Previous period's figures have been regrouped wherever necessary,

By order of the Board

For AJanta Pharma Ltd.

\n^r*
Yogesh M. Agrawal
Y
Mumbai, 3li^ay 2017 lvtanaging Director

Page 3 of 3

Corporate ldentity Number - 124230MH1979P1C022059

 KAPOOR & PAREKH ASSOCIATES
CHARTERED ACCOUNTANTS

Independent Auditors' Report on the standalone financial results of the

Ajanta Pharma Limited Pursuant to the Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 201 5

To
The Board of Directors of
AJANTA PHARMA LIMITED

1. We have audited the accompanying "Statement of Standalone Financial

Resutts" of AJANTA PHARMA LIMITED ("the Company") for the year ended
31 March 2017, ("the Statement"), attached herewith, being submitted by
the Company pursuant to the requirement of Regulation 33 of the SEBI
(Listing Obtigations and Disclosure Rdquirements) Regutations, 2015 read with
SEBI Circutar No. CIR/CFD/FAC|62/2016 dated 5 Juty 2016.

2. This Statement, which is the responsibitity of the Company's managements

and approved by the Board of Directors, has been prepared on the basis of
related Standatone Financial Statements which are in accordance with the
Indian Accounting Standard (lnd AS) prescribed under Section 133 of the
Companies Act, 2013 read with relevant rutes issued thereunder and other
accounting principtes generatty accepted in India. The responsibitity includes
design, imptementation and maintenance of internal controt retevant to the
preparation of the Statement that is free from material misstatement,
whether due of fraud or error.

3. Our responsibitity is to express an opinion on this Statement. We conducted

our audit in accordance with the Standard on Auditing issued by the Institute
of Chartered Accountant of lndia. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
Statement is free from material misstatement. An audit inctudes examining,
on a test basis, evidence supporting amounts disctosed in the Statement. An
audit also inctudes evaluating the appropriateness of the accounting policies
used and the reasonabteness of the significant accounting estimates made by
the Management, as wetl as evaluating the overatl presentation of the
Statement. We betieve that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.

4. Based on our audit conducted as above, in our opinion and to the best of our
information and according to the exptanations given to us, the Statement:
(i) is presented in accordance with the requirements of Regutation 33 of the
SEBI (Listing Obtigations and Disctosure Requirements) Regutations, 2015
read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated 5 Juty 2016; and
(ii)give a true and fair view, in conformity with the aforesaid Ind AS and
other accounting principtes generatty accepted in lndia, of the net profit
(financial performance including other comprehensive income) and other
fina for the year ended 31 March2017.

Page 1 of 2

701, Business Suites 9, S, V. Road,' '400 054, India.Tel: +91 2226007702 Fax:+91 2226007706 Email : info@sskpa.com, Web : www.sskpa.com
 KAPOOR & PAREKH ASSOCIATES
CHARTERED ACCOUNTANTS

5. The Statement includes the results for the quarter ended 31 March 2017,
being the batancing figure between audited figures in respect of the futt
financial year and the pubtished unaudited year to date figures up to the
third quarter of the current financial year, which were subject to limited
review by us.

For Kapoor & Parekh Associates

Chartered Accountants
tcAt FRN 1,04803W

Nitesh Parekh
Partner
M. No. 33528

Mumbai, 3 May 2017

Page 2 of 2

701, Business Suites 9, S.V. Road, Santacruz (W), lllumbai - 400 054, lndia.Tel: +91 22 2600 7702 Far+91 2226007706 Email : infoQsskpa.com, Web l wwwsskpa,com
 +9L22 5606 1000
@ Ajanta House, T
ninntapharmatimited Charkop, Kandivli West, F +9122 6606 1200
Mumbai 400 067 E info@aja ntapharma.com
lndia W www.ajantapharma.com

3td May,2017

BSE LIMITED National Stock Exchange of India,

Phiroze Jeejeebhoy Towers Exchange Plaza,Sth Floor, Plot no.
DalalStreet, C/1, G Block, Bandra Kurla Complex,
Mumbai * 400001 Bandra (East), Mumbai - 400 051

Scrip Code: BSE - AJANTPHARM 532331 Scrip Code: NSE AJANTPHARM EQ

Dear Sirs/Madam,

Sub.: Declaration under Regulation 33(3Xd) of SEBI (Listing Obligations and Disclosure
Requirements) (Amendment) Regulations, 2016 and SEBI Circular No.
clR/cFD/cMD/56/2016

DECLARATION

ln compliance with the provisions of Regulation 33(3)(d) of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2016 as amended by the SEBI (Listing Obligations
and Disclosure Requirements) (Amendment) Regulations, 2016 and SEBI Circular No.
Cf R/CFD/CMD15612016 dated 27th May,2016,1 hereby declare that M/s. Kapoor & Parekh
-
Associates, Chartered Accountants (FRN 104803W), Statutory Auditors of the Company,
have issued an Audit Report with unmodified opinion on Audited Financial Results
(Standalone and Consolidated) of the company for the quarter and year ended 31st March,
2017.

Kindly take on record the same.

Thanking you,

,:fi,z ',J
Yours faithfullv.

Corporate ldentity Number - 124230M H 1979P1C022059